#PlaybyPlay;
Churchill Downs (NasdaqGS: $CHDN) to Temporarily Suspend Racing at Miami Valley
Raceway and Fair Grounds Race Course, Malibu (NasdaqGS: $MBUU) Boats Taking
Action to Ensure Stakeholder Safety
#Tokyo2020 Olympic Games
Postponed Until 2021
Point Roberts, WA, Delta BC March 24, 2020 -
Investorideas.com, a leader in investor news and research issues today’s
edition of Play by Play covering what’s new in sports and e-sports
headlines and recent news from publicly traded companies in the sector.
Stocks
discussed: (NasdaqGS:CHDN) (NasdaqGS:MBUU)
Listen
to the podcast
Churchill Downs Incorporated (NasdaqGS:CHDN)
has announced the temporary
suspension of live racing at Miami Valley Raceway at Miami Valley Gaming in
Lebanon, Ohio, and Fair Grounds Race Course in New Orleans, Louisiana in
compliance with local authorities to clamp down on risks presented by COVID-19.
This news comes after the company had announced the postponement of the 146th
Kentucky Derby, one of thoroughbred racing’s biggest events, until September 5,
2020.
Malibu Boats, Inc. (NasdaqGS:MBUU) has taken
actions
to “ensure the health and safety of its key stakeholders.” Malibu CEO Jack
Springer explained:
“We
are all navigating uncharted waters, as uncertainty in the broader
macro-economic environment has reached unprecedented levels. In this moment,
the health and safety of our employees, dealers and customers remain our top
priority. As a result, we made the difficult decision to suspend operations at
our manufacturing facilities out of an abundance of caution for the communities
we serve.
Despite
the volatility in the global markets, Malibu remains in an excellent financial
position. To ensure we maintain sufficient liquidity, we have drawn just under
$100 million on our current revolver to support operations and strategic
investments in the event of a prolonged lower demand environment. Further, our
historical commitment to operational excellence and vertical integration
initiatives will allow us to withstand the downward retail momentum that is
beginning to reverberate throughout the world. These strategies will allow us
to remain nimble and align our cost structure quickly to lowered retail demand
to preserve margins.”
Tokyo
2020 Olympic Games Postponed Until 2021
After weeks of
speculation a joint
statement
from the International Olympic Committee and the Tokyo 2020 Organising
Committee have confirmed that the Tokyo 2020 Olympic Games have been postponed
until summer 2021 as the world battles to contain the Coronavirus. While the
games have been canceled during the two world wars (1916, 1940, 1944), this
marks the first time the games have been postponed or canceled in peacetime. An
excerpt from the statement reads:
The leaders agreed that the Olympic Games in Tokyo
could stand as a beacon of hope to the world during these troubled times and
that the Olympic flame could become the light at the end of the tunnel in which
the world finds itself at present. Therefore, it was agreed that the Olympic
flame will stay in Japan. It was also agreed that the Games will keep the name
Olympic and Paralympic Games Tokyo 2020.
An article from CNBC, which was written
before the announcement was made, quotes Oxford Economics’ Stefan Angrick on
the “limited” economic impact of delaying the games.
“We think about it this way: The games raise economic
activity by triggering construction in the years leading up to the event, and
by boosting inbound tourism and associated consumption at the time the Games
take place. As construction is complete, that impact is already reflected in
past GDP data and won’t change.”
“In a hypothetical scenario without the coronavirus
pandemic, such a step would have a significant impact. But considering the situation
we’re in, with tourism coming to a virtual standstill and consumption set to
decline, the additional impact of postponing the Olympics is fairly modest.”
Sports Stocks - esports,
sports media, sports teams, sports betting, fantasy sports, sports equipment
and more...
About Investorideas.com - News that Inspires Big
Investing Ideas Investorideas.com
is a recognized news source publishing third party news, research and original
financial content. Learn about investing in stocks and sector trends with our
news alerts, articles, podcasts and videos,
looking at cannabis, crypto, AI and IoT, mining, sports biotech, water,
renewable energy and more. Investor Idea’s original branded content includes
the following podcasts and columns : Crypto Corner , Play
by Play
sports and stock news column, Investor Ideas Potcasts Cannabis News and
Stocks on the Move podcast and column, Cleantech
and Climate Change
, Exploring
Mining the AI
Eye .
Disclaimer/Disclosure: Investorideas.com is a digital
publisher of third party sourced news, articles and equity research as well as
creates original content, including video, interviews and articles. Original
content created by investorideas is protected by copyright laws other than
syndication rights. Our site does not make recommendations for purchases or
sale of stocks, services or products. Nothing on our sites should be construed
as an offer or solicitation to buy or sell products or securities. All
investing involves risk and possible losses. This site is currently compensated
for news publication and distribution, social media and marketing, content
creation and more. Disclosure is posted for each compensated news release,
content published /created if required but otherwise the news was not
compensated for and was published for the sole interest of our readers and
followers.
Contact management and IR of each company directly regarding
specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn
more about publishing your news release and our other news services on the
Investorideas.com newswire https://www.investorideas.com/News-Upload/ and
tickertagstocknews.com
Global investors must adhere to regulations of each country.
Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
To contribute interviews, story ideas and
sponsorship opportunities:
Contact
Investorideas.com
800 665 0411
No comments:
Post a Comment